MN SF132

Creates new income tax subtractions for discharge of coerced debt under section 332.74 and for federal foreign service pension/retirement pay, effective for tax years after December 31, 2024

Modernizes the political contribution refund program by requiring electronic receipts with unique validation numbers and establishing an electronic filing system, effective for contributions after December 31, 2026

Expands property tax exemptions for certain property owned by federally recognized Indian Tribes used for Tribal purposes or public charity, and exempts nonprofit conservation organization land used for grazing that furthers conservation objectives

Increases the class 1c (resort) property tax tier thresholds from $600,000/$1,700,000 to $1,500,000/$3,000,000, and expands the family farm homestead shareholder limit from 12 to 18 members

Provides aid penalty forgiveness for the city of Stewart, appropriating $87,501.50 for withheld 2023 aid payments, and requires local units receiving public safety aid over $10,000 to report on aid usage by January 15, 2026